Browsing: parastatals

• Tanzania to sell government shares in parastatals to public.
• President Samia decries loss-making parastatals, announces reforms.
• The private sector is eager to learn which parastatals will sell shares.

Tanzanian government is taking bold steps to inject new life into its ailing parastatals by opening their doors to private sector investment. This strategic shift marks a departure from the government’s previous stronghold over these enterprises, aiming to rejuvenate their operations and stimulate economic growth.

President Samia Suluhu Hassan’s executive order to sell shares in public parastatals signals a transformative move towards reviving entities that have struggled to remain competitive.

The motivation behind the decision extends beyond economic growth—it echoes the vision of Tanzania’s founder, Mwalimu Julius Nyerere, who envisioned these enterprises as assets owned by the people and the private sector.

Unleashing the Tanzania parastatals’ potential

By transferring ownership to the private sector, the government aims to foster public authority and …

Safaricom, the government’s primary source of dividends, substantially increased its dividends payout. Other state-controlled enterprises, like the power generator KenGen and Kenya Re, also increased their contribution during the review period, which helped to boost the total amount of dividends.

The Treasury will receive a total payout of Sh19.4 billion for its 35 per cent telco ownership due to the dividend announcement, making it one of the most significant recipients of the windfall.

In February, Safaricom paid an interim dividend to the Treasury in the amount of 8.97 billion Kenyan shillings.

Safaricom declared a final dividend of 0.75 shillings per share, which will entitle it to receive an additional 10.5 billion by the 31st of August.…